Crypto Market Consolidates Ahead of Next Leg Up

The crypto market is showing signs of consolidation ahead of its next leg up. Bitcoin (BTC) has been trading around $79,000, a level that has proven to be strong support for bulls. As they gather momentum, a potential breakout towards the $82,500 resistance zone is on the cards.

Ethereum (ETH), on the other hand, is holding above $2,400 and building momentum for a potential breakout past $2,600. Its upward-moving averages and MACD buy signal are supporting its gains.

Ripple (XRP) is trading above $1.40 short-term support but faces capped upside due to an overextended bullish outlook. A sustained move above $2.00 is needed to reinforce the short to medium-term positive outlook for XRP.